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Self Storage
Performance Quarterly
Source: Cushman & Wakefield, Inc. The
Self Storage Performance Quarterly
, a publication of Cushman & Wakefield, Inc., is intended solely for use by paid subscribers.
Reproduction or distribution in whole or part without written permission is prohibited and subject to legal action. Copyright® 2017
Cushman & Wakefield | Valuation & Advisory
3
Section II – Supply and Demand
Supply
Supply Data Source
– SSDS acquires data from F. W. Dodge to benchmark the trend in new supply,
recognizing that this data source does not report everything that is being built. Data from F. W. Dodge is
published monthly in arrears. As a result, quarter-end data arrives after the scheduled publishing of the SSPQ
report; thus, the supply data reflects the last month statistics of the previous quarter and the first two month
statistics of the current quarter.
Construction Pipeline
The table below illustrates self-storage projects in the various phases of the construction pipeline by region of
the country. The line item in the table below for New Construction Starts includes: alterations, renovations,
interior completions and additions.
Note: New construction starts listed here included alterations, additions, and renovations.
PROJECT PHASE DEFINITIONS
Bidding
– Plans and specifications are complete. The owner is taking bids on the prime (general) contract.
Construction
– This is an update to a Start report. There can only be one Start report issued. Work is underway.
Deferred
– Project is on hold and may proceed at a later time.
Pre-Planning
– No primary design factor (i.e., architect or design engineer).
Planning
– An architect or engineer has been selected for the project, and plans are underway. Initial approvals
have usually been granted and a general description of the project may appear on the report.
Final Planning
– The project will go out for bids or construction will start within four months.
Permits
– Permit information taken from local municipalities.
Start
– A new start means that the general contract has been awarded and work will begin soon. Note: this
includes new projects, as well as alterations, renovations, interior completions and, additions.
Description
East
Midwest
South West
Totals
Q2-17
Q2-17 vs
Q1-17
Q2-17 vs
Q2-16
Bidding (All Stages)
6
3
18
6
33
14% 50%
Construction-In-Process
15
5
11
15
46
53% 35%
Projects Deferred
3
5
17
7
32
60% 23%
Pre-Planning
30
24
19
28
101
60% 87%
Planning
112
51
50
87
300
18% 29%
Final Planning
0
0
2
0
2
0% -33%
Certificates of Occupancy
15
7
8
2
32
68% 357%
Permit Issued
0
0
0
0
0
0% 0%
New Construction Starts
36
15
41
22
114
65% 133%
Other
0
0
0
0
0
0% 0%
Totals
217
110
166
167
660
36% 54%
% Of Region
33% 17% 25% 25% 100%
Project Pipeline By Region